Gold rose to a one-week high as investors bought on recent weakness while monitoring developments in the Middle East and their potential impact on inflation. Although oil prices eased slightly, ongoing geopolitical tensions continued to raise concerns over higher energy costs, which could keep inflation elevated and reinforce expectations of higher US interest rates. Since gold does not generate interest, a higher-rate environment may limit further gains. Still, the precious metal found support around the key $4,000 level, suggesting continued dip-buying, while uncertainty over the conflict and the Federal Reserve's policy outlook is likely to drive near-term price direction.
From a technical point of view, gold remains in a broader downtrend, with price continuing to trade below both the 50-day and 100-day SMAs, keeping the bearish structure intact. After failing to sustain a recovery above $4,150, the metal has returned toward the lower Bollinger Band, suggesting selling pressure remains dominant. The Stochastic oscillator has turned higher from oversold territory, indicating that short-term momentum is improving and could support a limited rebound. However, unless gold breaks above the 23.6% Fibonacci retracement at $4,322, the recovery is likely to remain corrective. The Bollinger Bands have started to narrow, pointing to easing volatility after the recent decline, while stronger resistance is seen near the 38.2% Fibonacci retracement at $4,532. Overall, the technical outlook remains bearish unless buyers reclaim these key resistance levels.
Disclaimer: The opinions in this article are personal to the writer and do not reflect those of Exness.
From a technical point of view, gold remains in a broader downtrend, with price continuing to trade below both the 50-day and 100-day SMAs, keeping the bearish structure intact. After failing to sustain a recovery above $4,150, the metal has returned toward the lower Bollinger Band, suggesting selling pressure remains dominant. The Stochastic oscillator has turned higher from oversold territory, indicating that short-term momentum is improving and could support a limited rebound. However, unless gold breaks above the 23.6% Fibonacci retracement at $4,322, the recovery is likely to remain corrective. The Bollinger Bands have started to narrow, pointing to easing volatility after the recent decline, while stronger resistance is seen near the 38.2% Fibonacci retracement at $4,532. Overall, the technical outlook remains bearish unless buyers reclaim these key resistance levels.
Disclaimer: The opinions in this article are personal to the writer and do not reflect those of Exness.
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คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน